There are a number of ways to increase revenue streams; two common ways include deploying an online ordering system and mobile app for your business. So even if you’ve successfully implemented these features, there are still a number of opportunities you can leverage to increase payment options and extend your business.
Get the highest return from your POS and increase your bottom line with these unexpected ways to increase revenue:
Invoices are a list of products or services that details the cost of each product/service. In fewer words, it’s a bill. Invoices are meant for businesses that would like to place an order for a customer for a future date without having those sales appear the day it was created.
With Revel’s invoices and deposits, your business can create an order, turn it into an invoice, and email it to the client as a promise that the order will be filled, and payment will be collected at a future date. Once the order has been created you can hold an invoice, send an invoice, or accept a deposit. Once the order has been filled and all payment collected, the invoice is then turned into an order and closed.
Need to see what’s working or which processes need more attention? Revel provides analytics on your invoices, so you can make informed decisions and optimize payment solutions for the future. Adding the flexibility of multiple payment platforms will enhance the customer experience, improve customer retention, and drive revenue growth.
In conjunction with invoices, you can set a product to layaway. Layaway is a purchasing method, that allows a consumer to place a deposit on an item to secure it until they can pay in full.
You can use layaway to control the flow of inventory. The POS can be prompted to remove the product from available inventory, so you have an accurate count of your physical inventory. Layaway offers convenience and gives shoppers the option to pay for purchases over time, while you have the peace of mind that the product is held in -store until payment is complete.
Bakeries, restaurants, and other businesses in the service industry may offer catering for customers’ events and gatherings. Revel’s catering function allows these businesses to take a catering order on the POS and record their sales while providing a way to keep track of the dates to prepare and deliver these orders.
Catering serves as an additional revenue stream. It is an extension of your establishment, allowing you to expand menu offerings, increase sales, and scale your business.
With a Revel POS empower your customer by offering numerous payment options, and increase your revenue with invoices, layaway, and catering. To learn more about the latest 2.22 features check out the release notes here.